The Latest on Diamonds

As of this week, diamonds seem to be on the move across the globe. Whether raising money for new mines, surpassing sales expectations for the quarter, or finding new ore, the world is loving diamonds.

As for late, Firestone diamonds has raised 6 million dollars for redevelopment at its flagship mine in Lesotho, Africa, and seriously expects to increase production.

Rio Tinto’s second quarter rose an astonishing 47 percent, with growth driven by higher grades in ore processed in its Argyle mine in Western Australia. It’s production also rose 21 percent at its Murowa mine in Zimbabwe. The company expects to recover 15.7 million carats of diamonds in 2013 compared to 13.122 million carats mined last year.

Dominion Diamond Corporation recovered approximately 1.04 million carats of diamonds from its Ekati and Diavik assets during the second quarter of 2013, and is exceeding its expectations set during its previous years in operation.

In Gujarat, India diamonds continue to flourish increasing labor opportunities and adding to its economy.

And of course, across the USA chain sales are reported to have risen by 1.7 percent, an increase to a once falling market.

As diamond production grows, their value continues to increase making them not only a desirable piece of jewelry, but a valuable asset as well.